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hi my name is John sablehaus and I am a non-resident senior fellow at the Brookings institution in Washington DC I'm going to answer a few questions about the paper I wrote for the Aspen economic strategy group called will population aging push us over a fiscal cliff which will be released December 12th in the policy volume economic policy in a more uncertain world first let's start with a few summary facts in the year 2000 12 percent of the U.S population was over age 65. by 2050 that share will be 22 percent as of 2022 we're already at 17 so about halfway between the two population aging is applying upward pressure on government deficit as a result of increased public spending on programs such as Social Security Medicare which are designed to support older Americans in my analysis I separate out the Aging related components of the federal budget such as Social Security Medicare and other health related expenditures from the rest of federal spending what we see

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